Kelo Calamity Continues

[ReardenSteel]

Kelo Calamity Continues; Media Remains AWOL
By Tom Blumer
http://newsbusters.org/blogs/tom-blumer/2008/03/19/kelo-calamity-continues-media-remains-awol

You really can't make this stuff up, as they say.

This is from the New London Day last Friday (link probably requires registration, and would require a paid subscription after this coming Friday; HT Liberty Conspiracy):

Fort Trumbull Developer Asks FHA To Back $11.5M Loan

Faced with a tight lending climate, the Corcoran Jennison company has asked the Federal Housing Authority to back an $11.5 million loan to fund the long-delayed construction of housing on the Fort Trumbull peninsula.

Corcoran Jennison applied for the mortgage insurance last Friday, said Kristine Foye, spokeswoman for the New England Regional Office of the U.S. Department of Housing and Urban Development.

The request was filed three months before a crucial May 29 deadline for the Boston-based developer to secure financing and sign a construction contract for an 80-unit complex of rental apartments and townhouses.

...

I have said before that what ultimately happens with the properties that were the subject of the Kelo ruling will be instructive. So far, it has been just that, showing that the government is generally not capable of handling property development. This is why the private sector should be doing these kinds of things, with willing sellers and buyers.

What a freaking mess. It just keeps getting worse. 

[Lord Undies]

Are these low income units? 

[ReardenSteel]

Are these low income units? 

I understand the whole point of taking the land away was "justified" by the fact that the middle class homes were to be replaced by upper class condos. Thus, higher tax revenue justifies the States use of eminent domain. The old standard of "public use" meant fire stations, public schools, highways etc. The kelo standard made higher taxes "public use". So the government can take private property from one citizen and give it to another private citizen for the purpose of enriching the government.

http://www.law.cornell.edu/supct/html/04-108.ZS.html

[Lord Undies]

I understand Kelo, but I wasn't getting a lot of angle to the story. 

[ReardenSteel]

I understand Kelo, but I wasn't getting a lot of angle to the story. 

Oh, my bad.

Well it's just that they used the government to force people out and now their buisness plan seems a little shaky and so they want HUD to insure their loan. Plus it's been quite awhile now and they haven't developed jack-squat on their stolen land.

It's typical but it still burns me up. Just a pet peeve of mine I guess.

[Lord Undies]

I understand Kelo, but I wasn't getting a lot of angle to the story. 

Oh, my bad.

Well it's just that they used the government to force people out and now their buisness plan seems a little shaky and so they want HUD to insure their loan. Plus it's been quite awhile now and they haven't developed jack-squat on their stolen land.

It's typical but it still burns me up. Just a pet peeve of mine I guess.

This is why Kelo is such a farce of a ruling.